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The real estate investment trust is using the transaction to cash out $107 million of equity that it has built up in an office building at 350 Park Avenue, along Hedge Fund Alley in midtown Manhattan.

Like many recent transactions, it is characterized by low leverage, relative to transactions completed this year. And it relies on the inclusion of a pair of relatively high quality loans to boost the overall credit metrics of the pool.

The property, which was also the birthplace of the Oreo cookie, is a 635,000-square-foot, 11-story Class A office building located at 85 Tenth Avenue in West Chelsea. Deutsche Bank and Wells Fargo provided the refinance mortgage.

That's an increase of five basis points from October and the highest level since December 2015, according to Trepp. The biggest newly delinquent loan was a $149 million mortgage on an office building in Stamford, Conn.

Articles

Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, its not clear exactly what the Commission will do.

The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.